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Why Nerdy Stock Tumbled Today

TheMotleyFool

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Shares of online learning platform company Nerdy (NYSE: NRDY) fell hard today after the company reported its fourth-quarter results yesterday. While sales and earnings beat Wall Street's consensus estimates, investors weren't happy with Nerdy's revenue decline and shrinking gross margin.

As a result, Nerdy's stock was down by 10.7% as of 11:11 a.m. ET.

Nerdy reported a loss per share of $0.09 in the quarter, which was significantly better than analysts' consensus estimate of a loss of $0.14 per share. Nerdy's sales of $48 million beat the top end of the company's guidance for the quarter as well, which was in the range between $44 million to $47 million, and ahead of Wall Street's estimate of about $45 million.

Source Fool.com

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